RWS AR 23 Final Single pages - Flipbook - Page 124
Notes to the Consolidated Financial Statements (continued)
The following is an analysis of revenue by the geographical area in which the Group’s undertakings are located.
2023
£m
2022
£m
UK
191.8
189.5
Continental Europe
156.6
166.6
United States of America
334.6
339.0
50.8
54.1
733.8
749.2
Revenue by subsidiary location
Rest of the World
Total
The table below shows operating assets by geographical location of the Group's undertakings. These assets exclude
goodwill and acquired intangibles.
Operating assets by geography
UK
Continental Europe
United States of America
Rest of the World
Total
2023
£m
2022
£m
190.2
162.7
80.8
79.0
128.1
147.2
59.1
67.5
458.2
456.4
2023
£m
2022
£m
351.6
328.4
37.0
34.2
7.3
7.1
5. OPERATING PROFIT
Operating (loss)/ pro昀椀t has been arrived at after charging/(crediting):
Total sta昀昀 costs (before the capitalisation of internal development costs) (Note 7)
Research and development expenditure
Depreciation of property, plant and equipment (Note 14)
9.4
10.8
Amortisation of intangible assets (Note 13)
Depreciation of right of use assets (Note 18)
56.9
50.1
Impairment losses (Note 12)
62.4
-
Foreign exchange losses
0.6
3.7
Expected credit loss expense (Note 15)
0.2
0.8
(13.6)
1.1
(Gain)/ loss on changes in fair values on derivative contracts
Operating lease rentals:
- Property (Note 18)
1.9
1.8
- Plant and equipment (Note 18)
0.5
0.5
Auditor's remuneration
Fees payable to the Company’s auditor for the audit of the Group’s annual 昀椀nancial statements
1.4
1.8
- The audit of subsidiaries of the Company
0.8
0.1
Total audit fees
2.2
1.9
The audit of subsidiary Companies amount includes £0.3m of fees relating to subsidiary audits for prior 昀椀nancial years.
The 2022 fees includes £0.2m paid in respect of statutory audit services for the year ended 30 September 2021. Non
audit fees of £16k (2022: £27k) were incurred in the period in respect of assurance related services.
Research and development costs
Management continually review development expenditure to assess whether any costs meet the criteria for
capitalisation. In addition to the amounts charged to the income statement, the Group has capitalised £19.3m
(2022: £22.6m) of development costs in the year, further details can be found in Note 13.
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RWS — Annual Report 2023
NOTES TO THE CONSOLIDATED STATEMENTS
